On Approves 1 Billion Dollar Buyback Plan
Swiss sportswear brand On authorized its first share buyback worth up to 1 billion dollars through 2029 and unveiled long-term financial targets. The company aims for high-teens annual sales growth and expansion into soccer. Shares rose in morning trading.
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On Holding authorized its first $1 billion share buyback through late 2029 on Tuesday afternoon, alongside aggressive long-term financial targets. US-listed shares of the sportswear maker rose 13% in morning trading following the announcement. The move counters a 40% decline year-to-date as the company battles slowing growth in the United States and broader key markets.
